Polish startup Pergamin, which automates contract management in companies, has raised $3 million from OnDean Forward. The proceeds will allow Pergamin to further scale its platform globally.
- Pergamin simplifies contract management for medium and large companies by automating contract creation, speeding up the signing process, and securing document workflows. It converts contracts into a database, allowing easy data exchange with systems that manage employee, client, and order information.
- One of the startup’s solutions it is actively working on is the Employee Contract Platform. According to Pergamin’s estimation, manual and paper-based processes related to employee legal contract management cost SMEs and corporations up to €700 million annually in Poland alone.
“Creating, negotiating, signing, and then storing contracts is a headache for every company. In the case of employee contracts, there are also a number of additional documents required by law.
Pergamin accelerates the whole process by 10x while reducing preparation costs by 75% and recovering two-thirds of each HR manager’s workload,” claims Jakub Barwaniec, co-founder and CEO of Pergamin.
- The startup was founded in 2017 by Jakub Barwaniec, Piotr Łuczak, and Antoni Wędzikowski. Since its launch, Pergamin has acquired over 130 clients, including Bolt, Heimstaden, Renault Trucks, Toyota Material Handling, Vienna Insurance Group, Volvo Financial Services, Volvo Trucks, and Westwing. To date, the company's customers have processed nearly 400,000 contracts using the Pergamin platform.
- The funding came from OnDean Forward, an investment vehicle of Relativity, founded by Andrew Sieja and Marcin Wojtczak. Pergamin is the fund’s first direct investment outside the US, where the firm has already backed five legaltech companies.
- The latest funding round increases the total value of financing obtained by Pergamin from investors to approximately $5 million. The capital for the Polish company has been previously provided by Sunfish Partners, DFRI, FundingBox.vc, JR Holding, and Nunatak Capital
- Pergamin aims to build a global contract automation platform, with its new strategic investor assisting in both product development, focusing on its Employee Contract Platform, and scaling within Poland and into new markets.
